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20121201
20121201
Search Results 0 to 13 of about 14 (some duplicates have been removed)
away from the so called fiscal cliff. a drastic combination of mandatory spending cuts and tax hikes that could plunge the united states back into a recession. while there are plenty of hard w0rds from both sides, some terms of a possible zeal are making the rounds. kate bolduan has been following the back and fourth. >> don't get too excited about that, there's only one way to avoid the fiscal cliff. spending cuts and tax hikes. house republicans and president obama need to strike a deal on reducing the national debt. they have soundly rejected a white house offer that included $1.6 trillion in revenue, $400 billion in medicare and other entitlement savings, as well as a permanent increase in the debt limit among other things. so far, the rhetoric has not softened. treasury secretary tim geithner arriving on capitol hill for high level talks, most notably with house speaker john boehner. >> good morning, everyone. >> how did it go? just listen. >> despite the claims that the president supports a balanced approach, the democrats have yet to get serious. about real spending cuts. >> a
the battle over the so-called fiscal cliff. that's the combination, of course, of spending cuts and exexpiring tax breaks set to kick in about a month from now. economists say it could cause another recession. today, the president visited a toy factory in pennsylvania to make his case for his plan. he is asking americans to pressure congress to extend tax cuts for the middle class right now. in fact, extend tax cuts for everybody for the first $250,000 of income. so the families won't have to worry about a new year's day tax hike. republic leaders say letting the tax cuts expire on income of more than $250,000 would hurt small businesses and, as they call them. job creators. let's get to ed henry who is with us from the white house tonight. president says the election proved most americans are on board with this plan. >> that's right. he, without using the word thinks he he basically has a mandate. even though the election is over, he is out campaigning for this again because he thinks there is a dead lock here in washington and he wants to break it with pressure points from the
not the first time they've ignored those bands. washington, the potential fiscal cliff is expected to bring tax hikes and spending cuts it all americans, and what is really at stake when it comes to your home? and we're going to take a look at what could happen if lawmakers and the white house don't reach an agreement very soon. >> kelly: indeed, we will. plus, a man counting his blessings after coming face-to-face with a shark. . >> you know, you've got to look at this at like the emt told me on the way here, you could have had this or struck by lightning and the odds are about the same. [ male announcer ] alka-seltzer plus presents the cold truth. i have a cold, and i took nyquil, but i'm still "stubbed" up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] it doesn't have a decongestant. no way. [ male announcer ] sorry. alka-seltzer plus fights your worst cold symptoms plus has a fast acting decongestant to relieve your stuffy nose. [ sighs ] thanks! [ malennouncer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh wha
a deal on that fiscal cliff. just 31 days left until we hit those $7 trillion in automatic spending cuts and tax increases if negotiations break down. and both sides of the aisle are going straight to the public in order to plead their case, or rather tell us why the other side is to blame. this is president obama in his weekly radio address. >> both parties say we should keep middle class taxes low. the senate has already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. and if we can just get a few house republicans onboard, i'll sign this bill as soon as congress sends it my way. but it's unacceptable for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the wealthiest americans. >> in the republican response, senator orrin hatch takes th s hostage metaphor one step further and brings to mind a memorable movie scene. >> unfortunately, some on the other side of the aisle are offering a disastrous thelma and luiz strategy that would take u
may hang in the balance as the nation gets closer to a fiscal cliff. democrats and republicans have one month to come up with a plan to stop the across the board tax hikes and the major federal spending cuts from taking effect. i'm gregg jarrett. >> heather: i'm heather childers. some of the early optimism for a deal seems to be fading. steve is live in washington with more. >> reporter: one month away from that so-called fiscal cliff. there appears to be very little movement toward any kind of deal. president obama is using the bully-pulpit to appeal to the american people to push for immediate action to push the tax cuts for everybody except for those earning more than $250,000 a year. in his saturday address, he stressed the urgency of the situation. >> if congress does nothing, every family will see their income taxes automatically go up at the beginning of next year. a typical middle-class family of four will see income taxes rise by $2200. we can't let that happen. a families can't afford it and neither can our economy. >> reporter: republicans led by house speaker john boehne
of this year. then, senator orrin hatch from utah gives the republican address on the fiscal cliff which refers to automatic tax increases and spending cuts that would go into effect in 2013. >> hi, everybody. i'm here on the factory floor of a business in hatfield, pennsylvania, where folks are working around the clock making toys to keep up with the christmas rush. and i came here because, back in washington, the clock is ticking on some important decisions that will have a real impact on our businesses - and on families like yours. the most pressing decision has to do with your taxes. see, at the end of the year, middle-class tax cuts are set to expire. and there are two things that can happen. first, if congress does nothing, every family will see their income taxes automatically go up at the beginning of next year. a typical middle class family of four will see their income taxes rise by $2,200. we can't let that happen. our families can't afford it, and neither can our economy. the second option is better. right now, congress can pass a law that would prevent a tax hike on the first $250,
and they will play for us this morning. we begin this morning with the so-called fiscal cliff one from today unless washington gets its act together 90% of americans will see their taxes rise as a series of tax increase and spending cuts take effect. yet negotiations between the white house and congressional republicans are at a standstill. anna werner is in our washington bureau. good morning. >> reporter: good morning. unless congress comes to an agreement on the fiscal cliff it would mean a tax hike plus some $65 billion would be cut from the pentagon and other government agencies. both sides are hoping for a compromise. but so far all there's been is debate. >> i've been keeping my own naughty and nice list for washington. >> reporter: president obama took his fight to the public while visiting a toy company in pennsylvania where he warned republicans not to play scrooge. >> it's not acceptable to me and i don't think it's acceptable for you for a handful of republicans to hold middle class tax cuts held hostage. >> reporter: the white house proposal includes $4 trill
know you have all heard of the so-called fiscal cliff, the huge tax hikes and spending cuts that will be triggered if congress and the white house don't reach a budget deal by the end of the month. well, what are we looking at? first, cuts in defense. also bush era tax cuts set to x expire, so the majority of americans will pay more taxes. also at stake, the payroll tax holiday and unemployment benefits expect to get cut. dana, in your most recent column, you say it doesn't seem like anyone is doing anything but photo ops and news conferences. one politician was quoted as saying, effectively, we have a month. that's loads of time. is this a sophisticated game of chicken? >> it's a rather unsophisticated game of chicken, kind of elementary. what they're doing, both sides really, is doing a lot of posturing and waiting until they get close to the deadline if not go over the deadline because they feel if they go over the deadline, they're in a position to tell their hard core supporters, look, we have really got to make this deal now or that's the end. the economy goes back in
, we should actually have them not leave washington until they fix the fiscal cliff. at least let's fix the fiscal cliff and make sure that american families aren't faced with possible larger tax bills come january. >> wouldn't it just make you feel better if you didn't feel the real reason we'll get a fiscal cliff resolution, whether it's a little tinkering or something bigger, wasn't because they actually wanted to be home on christmas? >> i think that they absolutely should try to get this done. i certainly don't think they should go home before the situation is resolved. but i also think that when you are looking at what kind of congress we want, we want a responsive congress. we want a congress rooted in american communities, not inside the beltway. >> look, you just want mondays and fridays off, too, and your trying to make the argument to the national review as to why that is better. >> americans want their leaders to work, period. >> thanks to both of you. we appreciate it. of course, we want all your feedback. >>> next, the billionaire software tycoon john mcafee is wanted in t
and we're starting this hour with the wrangling on capitol hill over the fiscal cliff. we're just 31 days until the deadline which could potentially trigger $7 trillion in automatic spending cuts and tax increases. both republicans and democrats are at a standoff. they are each blaming the other side for holding up the process, but republican congressman terry lee says that by going over the cliff the president may have an ulterior motive. >> many of us fear that the president's real plan here was to let us go over the cliff and blame the republicans, and that's what we look like we're being set up to do, and then if you go over the cliff, then two months later, a month later, the president can come back with a bill and say, hey, we're going to now since the republicans let everyone's taxes go up, i'm going to ride in here now and be the -- the knight in shining armor and lower the taxes on the lower two brackets. >> it is a case that is sparking painful reminders of trayvon martin, another florida teenager shot to death in an incident that has racial overtones. i'm talking about jordan d
are really looking to their leaders for solutions, especially after this congress. so instead of spending time outside of washington, we should actually have them not leave washington until they fix the fiscal cliff. at least let's fix the fiscal cliff and make sure that american families aren't faced with possible larger tax bills come january. >> wouldn't it just make you feel better if you didn't feel that the real reason we're goeng to get a fiscal cliff resolution, whether tas little tinkering or something bigger wasn't because they wanted to be home for christmas. >> i certainly don't think they should go home before the situation is resolved, but i also think when you're looking at what kind of congress you want, you want a responsive congress, rooted in american communities, not inside the beltway. >> you would want mondays and fridays off, too, and you're trying to make the argument. >> americans want their leaders to work, period. >> thanks to both of you. "outfront" next, breaking news. the billionaire software tycoon is on the run and martin savidge just literally caught him.
to see us go over the fiscal cliff. we have got to get serious. we do not want to increase tax rates. we want to do something about the spending problem. remember, the goodwill -- the speaker put revenue on the table just after the election. he said, we get it. the president won his reelection and we won our be election. here is our proposal to the president that we were unwilling to give during that negotiation talks last year. >> they know that you put revenue on the table. will you pull back from them and give them some spending cuts question mark -- cuts? >> this is not a game. we are not interested in playing rope a dope. we do not want to see taxes go up on anybody. we want to engage in tax reform and get the economy going. we are not playing a game. that offer yesterday was simply not serious. thank you. >> next, house minority leader nancy pelosi talks to reporters about the so-called the school cliff negotiations. she urged house republican leadership to bring legislation to the floor regarding middle- class tax cuts. this is about 20 minutes. >> good afternoon. i'm here today w
to see us go over the fiscal cliff, but feel very strongly we've got to get serious here. we don't want to increase tax rates. we're not going to increase tax rates. and we want to do something about the spending problem. and remember, the good will, the piece that is, i think, determinive here, the speaker's put new revenues on the table just after the election and said we get it. the president won his re- election. we won ours. we have to now come together. here is our proposal to the speaker -- to the president that we were unwilling to give a year and a half ago. >> they know they need to put revenant on the table, but will you come back and give them the entitlement cuts? >> we will take this as a serious matter. this is not a game. we are interested in trying to solve the problem for the american people so that we do not see taxes go up on anybody, so we can engage in reform, get the economy going again. we're not playing a game. that offer yesterday was not serious. thank you. >> this is about 20 minutes. >> good afternoon. i'm here today with my colleague. i invited him here to
Search Results 0 to 13 of about 14 (some duplicates have been removed)